Noida Authority has released the details of 11 builders, who diverted Rs 1,500 crore paid by flatbuyers. The details are contained in a report by international agency Currie & Brown that was appointed by Noida Authority to audit the accounts of 14 real estate developers in Noida.

Santosh Kumar, Officer on Special Duty (OSD) of Noida Authority, told City Spidey that 11 out of 14 builders had diverted the money of flatbuyers.

“The Authority will send notices to these 11 developers, who have to submit replies to the notices within a week,” he said.

On November 8, Noida Authority had hired Currie & Brown to audit the accounts of 51 "defaulter builders", all of whom are now facing charges of diversion of funds collected from homebuyers. As part of the first phase, the agency was tasked with auditing accounts of 14 developers. Accounts of the remaining 37 builders will be taken up in the second phase.

“The Authority had placed orders for the remaining 37 projects almost 10 days ago. In the next month, the remaining draft reports will be presented and the action plan will depend on the outcome of the final reports,” Kumar said.

As part of the audit, the agency has collected information on the number of flats booked, the partial or full payment received so far, tower-wise status for each project, the total amount required for the project, the amount available with the builder and whether the builders can complete the projects.

In September last year, Uttar Pradesh Chief Minister Yogi Adityanath had directed the chief executive officers of Noida, Greater Noida and Yamuna Expressway authorities to audit the accounts of developers who had delayed delivery of flats to homebuyers.